Facility 1 - Interest rate 8.613% 80mil RMB , Drawn Down 77mil RMB (31 March). Repayment 5 Yrs from 1 July 2007 HOWEVER 15Mil RMB due prior to June 30 2008.
Facility 2 - Interest rate USD Prime + 0.25% $1mil revolving line of credit, Fully drawn (31 march)
Facility 3 - Interest rate 5.994% $8.894mil RMB, drawn down 5.994mil RMB. Repayment Dec 2008
Facility 4 - 6.24% $223k AU (mac bank), no specific date for repayment
Debt assumed thorugh acq of Novalux Facility 1 - 10% $9mil USD, fully drawn, Matures Jan 12, interest only for 12 months. principle of $250k per annum from Feb 09
Ok so by my reckoning near term debt totals some $2.15 mil USD excluding Mac Bank (may want their coin may not). However depending on the wording of the finance doc the $2.15 may be $1.72mil USD. (have only drawn down to 77mil RMB rather than 80mil) December sees another $859k US due
So in the scheme of things the company has more than enough money when cash on hand at the end of the quarter was $4mil AUD and Simon Cao has pledged up to $14mil AUD to cover AR positions at time of ann meeting.
